• 12ktpa project development and DFS works progressing toward FID stage for the Rincon Lithium Project
• 40MW energy infrastructure works to power Rincon Lithium Project progressing toward procurement and construction readiness stage
• Forecast international lithium demand growth strengthens via surge in EV and BESS

Argosy Minerals Limited continued development works at the Rincon Lithium Project in Argentina, achieving significant milestones during the Quarter. The 12ktpa project engineering and feasibility works are progressing toward the Definitive Feasibility Study (DFS) stage, with a focus on production of solid lithium chloride product on site. The critical flowsheet and technology selection process is being optimized and validated through comprehensive test work programs. The Company has also executed an agreement with Salta Electricity Distribution Company S.A. (EDESA) to deliver up to 40MW of reliable grid-based power to the Rincon Project, a key infrastructure requirement. This energy infrastructure program is being conducted in alignment with the neighboring Rio Tinto Rincon Project. The Company continues to assess funding opportunities, including re-engaging with Export Credit Agencies, to develop the 12ktpa project. The Company's highly prospective Tonopah Lithium Project in Nevada, USA, is also being evaluated to determine the best development pathway. The lithium market has maintained elevated prices, driven by tight inventories, supply disruptions, and growing demand from the EV and energy storage sectors.